Canberra is on a charge for the media moguls. Facebook owner Meta would be liable to pay the Australian Taxation Office more than $112 million a year if it fails to strike commercial deals with local publishers under new laws aimed at forcing recalcitrant social media platforms to pay for news. But the tax, which
Australia’s population grew by an extraordinary 8.5 million (45%) over the first 25 years of this century, far exceeding the population growth of other advanced nations. Over the four years from Q1 2021 to Q1 2025, Australia’s population grew by an estraordinary 1.88 million (7.9%)—equivalent to adding an Adelaide and Hobart to the nation’s population.
Amid the frenzy of economists calling rate holds and hikes, Westpac is making the most sense today. The bank argues that after a poorer performance in September, employment was stronger than anticipated in October, resulting in growth on a three-month average that was about ½ppt slower than it was six months prior. Moreover, the unemployment
The Market Ear on when things fall apart. Lower high SPX may be carving out a lower high, not a bullish look. 6800 is the key short-term support in futures; lose that and you’re into the channel lows and 50-day near 6750, with the big 6700 zone right below. Source: LSEG Workspace Momentum loss NASDAQ
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There has been a great deal of focus this week on the events of the Dismissal of Gough Whitlam’s Labor government, fifty years ago last Tuesday.
I have been particularly drawn to examining how the role of the Senate has changed since 1975, but also throughout the history of the federation. Changes in electoral systems, the size of the Parliament and a fragmenting party system has produced a Senate quite different to the one that blocked supply in 1975.
Former prime minister Malcolm Turnbull says the Liberals have the "memory of goldfish and diet of piranhas" after dumping net zero by 2050.
Opposition Leader Sussan Ley was also up on ABC News Breakfast this morning where she's been asked if dumping net zero could damage Australia's global reputation.
In October, Chinese banks made 220bn yuan in new loans, a sharp decline from 1.29 trillion yuan in September. Compared to a year ago, the flow of loans increased 6.5%, a record low. Under the hood, corporate loans fell to 350bn yuan from 1.22 trillion yuan, while household loans, including mortgages, shrank by 360bn yuan
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The Australian Bureau of Statistics (ABS) reports that international education is Australia’s fourth-largest export, earning the country $51 billion in 2024. The ABS generates this fantasy “export” figure by summing student visa holders’ spending on tuition fees and goods and services. In 2024-25, the ABS estimated that student visa holders spent $30.2 billion on goods